Trial now
USDCAD TECHS

Trend Conditions Remain Bullish

US TSY FUTURES

Extending Lows After the Close

US TSYS SUMMARY

Reversing Overnight Risk-Off Tone

AUDUSD TECHS

Remains Vulnerable

US

Pres Biden Budget Proposal Ests

EURJPY TECHS

Needle Still Points South

Pound finds some upside momentum

CABLE

GBP extend gains, initially led by momentum selling in the USD.

  • USD weakness and better Brexit news seems to be helping the British Pound.
  • Some note of better short covering as Cable keeps failing at breaking through the 1.2700 handle, when you look at bigger picture on the chart.
  • Politico: hears from both sides that the mood this week has been positive, despite no big breakthroughs. "It seems like the tide is turning," an EU official said.
  • James Forsyth in the Times has heard similar positive soundbites.
  • Cable is back above the 1.2800 figure, and initial MNI tech resistance seen further out at 1.2867 High Sep 22

MNI London Bureau | +44 203-865-3806 | fabrice.benhassine@marketnews.com